French asset manager choses SocGen for mutual funds

Societe Generale Securities Services will provide custody services for French asset manager Optimum Gestion Financiere.
By Paul Walsh

Optimum Gestion Financiere has selected Societe Generale Securities Services (SGSS) to provide a variety of custody services for its mutual funds targeting institutional and private investors.

As part of the partnership, SGSS will provide custody, liability management, depository bank and valuation services for the French asset manager.

In addition, the French bank will also provide custody services for Optimum Vie, Optimum’s life insurance company.

Initially created in 1998, the French asset management company manages several mutual funds in France.

“Our main objective is to use a structured and rigorous investment process with a specific emphasis on controlling risks to create value and preserve our clients’ capital,” said Benoit D. Lapointe, general manager of Optimum Gestion Financiere.

“Thanks to SGSS’ recognised expertise, our funds will benefit from the security of a leading depository bank in Europe, strict controlling processes and reinforced transparency for our investors.”

The move is the latest development for SGSS in the funds space following news earlier this year it would work alongside a new open-ended funds service launched by pan-European exchange Euronext.

As a fund agent registered with Euronext, SGSS will process orders placed by investor through their brokers, from order reception to settlement.